CBA 0.64% $96.18 commonwealth bank of australia.

will break to the downside.

  1. 7,397 Posts.

    Looks like CBA will break downwards soon and fall through its bottom trend line ,

    To confirm my theory do an interesting exercise is you have a charting pack with Gann tools ,

    Place the Gann fan axis using the low of Sept 11 as the start point ,

    you will notice the CBA price is being supported by the last Gann fan angle 8*1 at 7.5%,(very negative)

    As a matter of fact it can not get any closer and continues to make lower tops ,

    Gann would call this a pressure point ,or multi bottom waiting for a reversal, down towards $24.76 lows

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